Effect of Reliance and Saudi Aramco Deal News on Oil Market

Published in Journal

Journal of Advances and Scholarly Researches in Allied Education [JASRAE] (Vol:17/ Issue: 1) DOI: 10.29070/JASRAE
Authors: Gurvinder Kaur*,
Subjects: Multidisciplinary Academic Research

Year: Apr, 2020
Volume: 17 / Issue: 1
Pages: 204 - 207 (4)
Publisher: Ignited Minds Journals
Source:
E-ISSN: 2230-7540
DOI:
Published URL: http://ipublisher.in/p/304115
Published On: Apr, 2020

Article Details

Effect of Reliance and Saudi ARAMCO Deal News on Oil Market | Original Article

Gurvinder Kaur*, in Journal of Advances and Scholarly Researches in Allied Education | Multidisciplinary Academic Research

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ABSTRACT:

We analyzed the cross-sectional effects of mega deal between two giant oil-companies, i.e., Reliance Industries and world’s largest off-shore crude-oil company named - Saudi Aramco on the various domestic crude-oil marketing companies such as Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL). In order to observe the shock transmission of the deal news, share-prices of IOCL – one of the biggest oil-trading company, BPCL, HPCL were chosen. Because the news of informal mega-deal came into limelight for the first time in December 2018, with possibility of sealing the deal in future, therefore traded FUTCOM instrument for CRUDEOIL commodity under Energy segment was considered for the duration of January 2019 to December 2019 from the MCX database.